Online Banking - The Effect of Prior Experience on Online Banking Acceptance in Mongolia

Today, banking is an information-intensive business in which information technology (IT) is increasingly important. Online banking is a term used for performing transactions, payments etc. over the internet through a banks secure website. This can be very useful, especially for banking outside bank hours and banking from anywhere where internet access is available. Therefore, with the help of the Internet, banking is no longer bound to time or geography. Customers all over the world have relatively easy access to their accounts 24 hours per day, seven days a week. Nevertheless, most of the transactions traditionally occurred at the branch counter. This points out the need for research to identify the factors that determine acceptance of online banking by the customers.